The New Mexico Geothermal Ground-Coupled Heat Pump Tax Credit will pay up to 30%, with a $9,000 maximum, of your geothermal ground-coupled heat pump system that is operational subsequent to January 1, 2010. This incentive is available for both personal and corporate income taxes for purchase and installation costs for these systems. In addition to this state tax credit, the federal government will pay 30% in a federal tax credit (Personal) or 10% (Corporate) for your geothermal ground-coupled heat pump system. New Mexico's incentive was passed by the legislature in 2009 to help citizens invest in clean energy for their homes or businesses.
Colleen Baker
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participant impact
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UP TO30minutesspent learning
Colleen's actions
Electricity Generation
Choose Renewable Energy or Purchase Renewable Energy Credits
#2 Wind Turbines (Onshore), #8 Solar Farms
I will sign up for my utility company's clean/renewable energy option. If my utility does not offer one, I will purchase Renewable Energy Credits to match my usage.
Electricity Generation
Learn More about Wave and Tidal Energy
#29 Wave and Tidal
I will spend at least 30 minutes learning more about the energy generation potential of wave and tidal energy.
Electricity Generation
Learn More About Geothermal Energy
#18 Geothermal
I will spend at least 30 minutes learning more about the energy generation potential of geothermal energy and consider investing in this technology.
Electricity Generation
Rooftop Solar Consultation
#10 Rooftop Solar
After researching the incentives at the federal, state, utility, and local levels, I will contact a local installer/distributor for a solar panel installation consultation on my house.
Electricity Generation
Support Companies Leading in Green Energy
#8 Solar Farms
I will use my spending power to reward companies leading in purchasing green energy and incentivize others to invest more in green energy.
Participant Feed
Reflection, encouragement, and relationship building are all important aspects of getting a new habit to stick.
Share thoughts, encourage others, and reinforce positive new habits on the Feed.
To get started, share “your why.” Why did you join the challenge and choose the actions you did?
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Colleen Baker 4/10/2018 6:40 PM-
Neal Denton 4/12/2018 12:56 PMI like it! Good to know.
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REFLECTION QUESTIONElectricity Generation Learn More About Geothermal EnergyGeothermal energy is reliable, abundant, and efficient. Project Drawdown states that public investment will play a crucial role in its expansion. What kind of investment seems most feasible for you?
Colleen Baker 4/10/2018 6:26 PMI am intrigued by the idea of developing geothermal energy resources at the household level for heating and cooling. According to the following article Geothermal Energy Pros and Cons by Mathias Aarre Maehlum Last updated June 1, 2013 (http://energyinformative.org/geothermal-energy-pros-and-cons/) ground round source heat pumps typically costs $3,000 – $10,000 and have a payback time of 10 – 20 years. I discovered that New Mexico has a tax credit to install a heat pump.
The New Mexico Geothermal Ground-Coupled Heat Pump Tax Credit will pay up to 30%, with a $9,000 maximum, of your geothermal ground-coupled heat pump system that is operational subsequent to January 1, 2010. This incentive is available for both personal and corporate income taxes for purchase and installation costs for these systems. In addition to this state tax credit, the federal government will pay 30% in a federal tax credit (Personal) or 10% (Corporate) for your geothermal ground-coupled heat pump system. New Mexico's incentive was passed by the legislature in 2009 to help citizens invest in clean energy for their homes or businesses.-
Neal Denton 4/12/2018 12:56 PMI've always found geothermal heat pumps fascinating also. Any attempt to work with the environment to improve our dwellings whether it's passive solar or simply harvesting rainwater makes alot of sense to me. I'm sharing your link with the team now. Thanks for posting!
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REFLECTION QUESTIONElectricity Generation Support Companies Leading in Green EnergyEvery dollar you put into solar or wind is a dollar not put into traditional financial institutions. You'll also be bolstering the fossil fuel divestment movement, too. What are some companies you know of that invest in green energy, and how can you support them?
Colleen Baker 4/09/2018 10:52 AMREI invests in both solar and wind energy. I am a long time member of REI. I just purchased a Hydro Flask stainless steel water bottle from REI.